State of Alaska
Fiscal Note
Bill Version: HB 259
2022 Legislative Session
Fiscal Note Number: 2
(H) Publish Date: 2/14/2022
Identifier: HB259-PF-PFD-1-31-22 Department: Permanent Fund
Title: PERMANENT FUND DIVIDEND; 25/75 POMV Appropriation: Permanent Fund Dividends
SPLIT Allocation: Permanent Fund Dividend Fund
Sponsor: SPOHNHOLZ OMB Component Number: 2616
Requester: (H)EDU
Expenditures/Revenues
Note: Amounts do not include inflation unless otherwise noted below. (Thousands of Dollars)
Included in
FY2023 Governor's
Appropriation FY2023 Out-Year Cost Estimates
Requested Request
OPERATING EXPENDITURES FY 2023 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028
Personal Services
Travel
Services
Commodities
Capital Outlay
Grants & Benefits
Miscellaneous 900,000.0 952,000.0 1,004,750.0 1,064,250.0 1,086,250.0
Total Operating 0.0 0.0 900,000.0 952,000.0 1,004,750.0 1,064,250.0 1,086,250.0
Fund Source (Operating Only)
1041 PF ERA (UGF) 900,000.0 952,000.0 1,004,750.0 1,064,250.0 1,086,250.0
Total 0.0 0.0 900,000.0 952,000.0 1,004,750.0 1,064,250.0 1,086,250.0
Positions
Full-time
Part-time
Temporary
Change in Revenues
None
Total 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Estimated SUPPLEMENTAL (FY2022) cost: 0.0 (separate supplemental appropriation required)
Estimated CAPITAL (FY2023) cost: 0.0 (separate capital appropriation required)
Does the bill create or modify a new fund or account? No
(Supplemental/Capital/New Fund - discuss reasons and fund source(s) in analysis section)
ASSOCIATED REGULATIONS
Does the bill direct, or will the bill result in, regulation changes adopted by your agency? No
If yes, by what date are the regulations to be adopted, amended or repealed?
Why this fiscal note differs from previous version/comments:
Initial version.
Prepared By: Caroline Schultz, Policy Analyst Phone: (907)465-4698
Division: Office of Management and Budget Date: 10/11/2021 03:00 PM
Approved By: Neil Steininger, Director Date: 10/11/21
Agency: Office of Management and Budget
Printed 2/14/2022 Page 1 of 2 Control Code: rwZyn
 HB 259 - Fiscal Note 2
FISCAL NOTE ANALYSIS
STATE OF ALASKA BILL NO. HB259
2022 LEGISLATIVE SESSION
Analysis
This legislation changes the amount calculated for the appropriation for the payment of permanent fund dividends to 25%
of the 5% percent of market value (POMV) draw from the Permanent Fund under AS 37.13.140(b).
This legislation takes effect in fiscal year 2024. Under the calculation proposed by this legislation, the fiscal year 2024
appropriation for permanent fund dividends is estimated to be $900 million, equating to an estimated dividend of $1,338
for eligible recipients. The table below shows estimated permanent fund dividends under the proposed statutory
calculation based on current Alaska Permanent Fund Corporation projections for the POMV draw.
This legislation also authorizes the legislature to appropriation half of the remaining 75 percent of the POMV draw to the
public education fund for the purpose of funding K12 education.
(Revised 11/23/2021 OMB/LFD) Page 2 of 2
HB259-PF-PFD-1-31-22 Page 2 of 2 Control Code: rwZyn


Statutes affected:
HB0259A, AM HB 259, introduced 01/07/2022: 14.17.300, 37.13.145, 14.09.010, 37.13.140, 43.23.045, 37.05.565, 37.13.300, 37.14.031, 43.23.025